mption of person maintaining cemetery but not operating as cemetery on July 5, 1971. NRS 689.595 Applicability of other provisions to agents and sellers. MISCELLANEOUS PROVISIONS NRS 689.700 Money in trust fund exempt from attachment and other process. NRS 689.715 Preneed sales agreement to be provided to person entitled to custody of remains; penalty. NRS 689.720 Regulations. NRS 689.730 Penalties. _________ GENERAL PROVISIONS NRS 689.015 Definitions. As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 689.035 to 689.145, inclusive, have the meanings ascribed to them in those sections. (Added to NRS by 1971, 1393; A 1987, 1260; 1991, 2203) NRS 689.035 “Agent” defined. “Agent” means an individual authorized by a seller to offer, sell or solicit the purchase of a prepaid contract on behalf of the seller. (Added to NRS by 1971, 1393) NRS 689.045 “Buyer” defined. “Buyer” means the purchaser of a prepaid contract. (Added to NRS by 1971, 1393) NRS 689.065 “Net purchase price” defined. “Net purchase price” means the purchase price, including interest earned on the trust funds attributable to the buyer, remaining after deduction of the sales commission. (Added to NRS by 1971, 1394; A 2001, 2216) NRS 689.105 “Purchase price” defined. “Purchase price” means the aggregate amount to be paid by a buyer to a seller for a prepaid contract. (Added to NRS by 1971, 1394; A 1987, 1260) NRS 689.115 “Sales commission” defined. “Sales commission” means that portion of the purchase price paid to or retained by the seller as compensation in connection with the sale of a prepaid contract. (Added to NRS by 1971, 1394) NRS 689.125 “Seller” defined. “Seller” means any person selling a prepaid contract. (Added to NRS by 1971, 1394) NRS 689.135 “Trust fund” defined. “Trust fund” means a fund containing any money deposited with a trustee by a seller with respect to a prepaid contract. (Added to NRS by 1971, 1394; A 1987, 1260) NRS 689.137 “Trust liability” defined. “Trust liability” means 100 percent of the purchase price after deducting commissions. (Added to NRS by 1991, 2203; A 1993, 2616) NRS 689.145 “Trustee” defined. “Trustee” means: 1. A state or national bank; 2. A trust company; 3. A federally insured savings and loan association; or 4. A credit union insured by the National Credit Union Share Insurance Fund or by a private insurer approved pursuant to NRS 678.755, authorized to transact such business in the State of Nevada and designated as the trustee of the trust fund in a prepaid contract. (Added to NRS by 1971, 1394; A 1999, 1550) FUNERAL SERVICES NRS 689.150 Definitions. As used in NRS 689.150 to 689.375, inclusive, unless the context otherwise requires: 1. “Funeral service or services” means those services performed normally by funeral directors or funeral or mortuary parlors and includes their sales of supplies and equipment for burial. The term includes cremations and crematory services. The term does not include services performed by a cemetery or the sale by a cemetery of services, interests in land, markers, memorials, monuments or merchandise and equipment in relation to the cemetery or the sale of crypts or niches constructed or to be constructed in a mausoleum or columbarium or otherwise on the property of a cemetery. 2. “Performer” means any person designated in a prepaid contract to furnish the funeral services, supplies and equipment covered by the contract on the demise of the beneficiary. 3. “Prepaid contract” means any contract under which, for a specified consideration paid in advance in a lump sum or by installments, a person promises either before or upon the death of a beneficiary named in or otherwise ascertainable from the contract to furnish funeral services and merchandise. The term does not include a contract of insurance or any instrument in writing whereby any charitable, religious, benevolent or fraternal benefit society, corporation, association, institution or organization, not having for its object or purpose pecuniary profit, promises or agrees to embalm, inter or otherwise dispose of the remains of any person, or to procure or pay the expenses, or any part thereof, of embalming, interring or otherwise disposing of the remains of any person. (Added to NRS by 1987, 1251; A 1993, 2616) NRS 689.155 Applicability. 1. It is unlawful for any person to receive, hold, control or manage money or proceeds received or derived from the sale of, or from a contract to sell, any personal property, merchandise, funeral supplies or services of any description not already existing, available, deliverable and suitable for use in, or for the performance of, any service before the final disposition of the remains of any deceased person, whether such payments are made in lump sum or on an installment basis, before the demise of the person purchasing them or the person for whose use and benefit they are purchased, unless the provisions of NRS 689.150 to 689.375, inclusive, are complied with. 2. The provisions of subsection 1 do not apply to a bona fide prepaid agreement whereby a licensed mortuary or funeral home is to furnish funeral services to a person who has a medically diagnosed terminal illness and which agreement is entered into and fully performed by the mortuary or funeral home on a date which is within 60 days of the date medically predicted for the demise of the person. (Added to NRS by 1971, 1394; A 1987, 1260) NRS 689.160 Applicability of other provisions to agents and sellers. 1. The provisions of NRS 683A.341, 683A.451, 683A.461, 683A.480 and 686A.010 to 686A.310, inclusive, apply to agents and sellers. 2. For the purposes of subsection 1, unless the context requires that a section apply only to insurers, any reference in those sections to “insurer” must be replaced by a reference to “agent” and “seller.” 3. The provisions of NRS 679B.230 to 679B.300, inclusive, apply to sellers. Unless the context requires that a provision apply only to insurers, any reference in those sections to “insurer” must be replaced by a reference to “seller.” (Added to NRS by 1985, 1075; A 1987, 1260; 2001, 2216) NRS 689.165 Certificate of authority and compliance with provisions required. A person shall not sell any prepaid contract or accept any money under such a contract unless: 1. He holds a valid certificate of authority as a seller issued by the Commissioner; and 2. The contract and the sale thereof are in compliance with the provisions of NRS 689.150 to 689.375, inclusive. (Added to NRS by 1971, 1395; A 1985, 349; 1987, 1261) NRS 689.175 Certificate of authority: Application and supporting documents; fee. 1. The proposed seller, or the appropriate corporate officer of the proposed seller, shall apply in writing to the Commissioner for a seller’s certificate of authority, showing: (a) The proposed seller’s name and address, and his occupations during the preceding 5 years; (b) The name and address of the proposed trustee; (c) The names and addresses of the proposed performers, specifying what particular services, supplies and equipment each performer is to furnish under the proposed prepaid contract; and (d) Such other pertinent information as the Commissioner may reasonably require. 2. The application must be accompanied by: (a) A copy of the proposed trust agreement and a written statement signed by an authorized officer of the proposed trustee to the effect that the proposed trustee understands the nature of the proposed trust fund and accepts it; (b) A copy of each contract or understanding, existing or proposed, betw

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